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Del Monte Foods Co. Ratings Placed On CreditWatch Negative Due To Possible Private-Equity Takeover Nov 10
Standard & Poors, November 2010
U.S.-based Del Monte Foods Co. may be subject to a takeover by a private equity firm. We believe Del Monte's credit profile could weaken because we anticipate that a takeover could add meaningful debt. We are placing our ratings on Del Monte, including the 'BB' corporate credit rating, and its subsidiary Del Monte Corp., on CreditWatch with negative implications. NEW YORK (Standard & Poor's) Nov. 22, 2010--Standard & Poor's Ratings Services said today that it placed its 'BB' corporate credit rating and other ratings on San Francisco-based Del Monte Foods Co., and subsidiary Del Monte Corp., on CreditWatch with negative implications, meaning that the ratings could either be lowered or affirmed following the completion of our review. The CreditWatch placement...
Companies mentioned in this report are: Del Monte Corp.
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Del Monte Corp.